PRODUCTS & SERVICES

FROM SHORT-TERM
TO LONG-TERM
SOLUTIONS

ACROSS ALL LOAN STRUCTURES, ACROSS THE PROPERTY LIFE CYCLE

We are there with a diverse range of financing products and services.

FROM SHORT-TERM
TO LONG-TERM
SOLUTIONS

ACROSS ALL LOAN STRUCTURES, ACROSS THE PROPERTY LIFE CYCLE

We are there with a diverse range of financing products and services.

OVERVIEW

BRIDGE & EVENT DRIVEN LENDING

We specialize in shorter-term bridge and event-driven lending for borrowers pursuing ground-up construction, acquisitions, repositionings, recapitalizations, or the restructuring of partnerships.

 

Through our lending strategy, we originate senior and mezzanine loans and preferred equity commercial real estate investments. 

OVERVIEW

BRIDGE & EVENT DRIVEN LENDING

We specialize in shorter-term bridge and event-driven lending for borrowers pursuing ground-up construction, acquisitions, repositionings, recapitalizations, or the restructuring of partnerships.

 

Through our lending strategy, we originate senior and mezzanine loans and preferred equity commercial real estate investments. 

DIRECT ORIGINATION
Initiated through relationships with intermediaries and borrowers nationwide.
HANDS-ON DILIGENCE & UNDERWRITING
Focused on understanding the borrower’s business plan and providing accretive capital to borrowers.
BESPOKE STRUCTURING PROCESS
Loan structuring and risk management tailored to borrowers’ needs.
SERVICE BORROWER RELATIONSHIPS
Efficient and responsive servicing at each stage of the process.
CONTINUOUS HIGH-TOUCH ATTENTION
Vigilant communication and monitoring of bridge and event-driven loans.

SENIOR INVESTMENTS

SUBORDINATE INVESTMENTS

STRUCTURE

Senior Secured Loans

Mezzanine Debt & Preferred Equity

LOAN TO COST

Up to 85%

Up to 85%

LOAN TERM

1 – 5 years

1 – 5 years

LOAN SIZE

Minimum $25.0 million

Minimum $10.0 million

INTEREST RATE*

S+550 +

11% + 

GUARANTEES

Non-recourse with standard "bad-boy" carve-outs and completion guarantee

LOCATIONS

United States

PROPERTY TYPES

All asset classes

*Fixed and floating rate options available

OVERVIEW

TRANSITIONAL LENDING

We provide bespoke, floating-rate financing solutions for borrowers taking out construction financing, pursuing repositioning, or otherwise executing value-add business plans with a clear path to stabilization. 

OVERVIEW

TRANSITIONAL LENDING

We provide bespoke, floating-rate financing solutions for borrowers taking out construction financing, pursuing repositioning, or otherwise executing value-add business plans with a clear path to stabilization. 

DIRECT ORIGINATION
Initiated through relationships with intermediaries and borrowers nationwide.
HANDS-ON DILIGENCE & UNDERWRITING
Focused on understanding the borrower’s business plan and providing accretive capital to borrowers.
BESPOKE STRUCTURING PROCESS
Loan structuring and risk management tailored to borrowers’ needs.
SERVICE BORROWER RELATIONSHIPS
Efficient and responsive servicing at each stage of the process.
CONTINUOUS HIGH-TOUCH ATTENTION

Vigilant communication and monitoring of transitional loans.

TARGET INVESTMENT SUMMARY

LOAN STRUCTURE

Senior Secured Loans

LOAN TO VALUE

Up to 75.0%

LOAN TERM

2–3 Year Initial Terms with Extensions

LOAN SIZE

Minimum $30 million

INTEREST RATE

SOFR + 300-500

GUARANTEES

Non-Recourse with Standard "Bad-Boy" Carve-Outs 

LOCATIONS

United States

PROPERTY TYPES

All Asset Classes

OVERVIEW

STABLE CASH FLOW LENDING

Our long-term fixed-rate lending program mirrors the lender service package of traditional portfolio lenders, while delivering terms on par with capital markets lenders. It is a new and superior alternative to the service structure of CMBS conduit lenders.

OVERVIEW

STABLE CASH FLOW LENDING

Our long-term fixed-rate lending program mirrors the lender service package of traditional portfolio lenders, while delivering terms on par with capital markets lenders. It is a new and superior alternative to the service structure of CMBS conduit lenders.

CUSTOMER OUTCOME FOCUSED
Build and maintain long-term relationships with borrowers and intermediaries.
RELATIONSHIP LENDING

Loans originated and held on balance sheet throughout the life of a loan.

INTERNAL DECISION MAKING

All material credit, post-closing and servicing decisions made internally.

RETAINED SERVICING

Flexibility to respond to the borrower’s needs for lease assumptions, reciprocal easements, loan assumptions, and more.

INCENTIVE ALIGNMENT

Profit model based on maintaining stable credit performance.

BIGGER CREDIT BOX

Creative use of capital provides vast optionality to borrowers with stabilized properties.

MATCHED-TERM FINANCING

Issuance of “perfectly” matched secured liabilities to provide competitive proceeds and pricing to our borrowers.

COMMERCIAL TARGET INVESTMENT SUMMARY

LOAN TERM

5 & 10 years

LOAN SIZE

Minimum $10.0 million

INTEREST RATE

Fixed Rate (spread pricing over appropriate Swap Yield or Treasury Yield) 

AMORTIZATION

30- Year amortization; interest only available

MINIMUM DSCR

1.25x

3650 ORIGINATION FEE

None; rate buydown fees permitted on a case-by-case basis

RESERVES

Typical reserves for capital markets loans (Tax, Insurance, CapEx, TI/LC); Prefunded earnout available

PREPAYMENT

Lockout followed by defeasance or yield maintenance; open last 3-months of term

GUARANTEES

Non-recourse with standard "bad-boy" and environmental carve-outs

LOCKBOX & CASH MANAGEMENT

Springing or In-place (case-by-case)

MEZZANINE FINANCING

Available on a case-by-case basis

EARLY RATE LOCK

Available on a case-by-case basis subject to a margin deposit and rate lock agreement

LOCATIONS

Primary, secondary, and tertiary MSAs within the United States

PROPERTY TYPES

Elligible property types include industrial, retail, self-storage, hospitality, office

MULTIFAMILY TARGET INVESTMENT SUMMARY

LOAN TERM

5 & 10 years

LOAN SIZE

Minimum $5.0 million

INTEREST RATE

Fixed Rate (spread pricing over appropriate Swap Yield or Treasury Yield) 

AMORTIZATION

30- Year amortization; interest only available

MINIMUM DSCR

1.20x

3650 ORIGINATION FEE

None; rate buydown fees permitted on a case-by-case basis

RESERVES

Typical reserves for capital markets loans (Tax, Insurance, CapEx); Prefunded earnout available

PREPAYMENT

Lockout followed by defeasance or yield maintenance; open last 3-months of term

GUARANTEES

Non-recourse with standard "bad-boy" and environmental carve-outs

LOCKBOX & CASH MANAGEMENT

Soft Springing or Soft In-place (case-by-case); Borrower deposits rents

MEZZANINE FINANCING

Available on a case-by-case basis

EARLY RATE LOCK

Available on a case-by-case basis subject to a margin deposit and rate lock agreement

LOCATIONS

Primary, secondary, and tertiary MSAs within the United States

PROPERTY TYPES

Multifamily, MHC, 55+, Student Housing 

MINIMUM UNITS

Property must have 5 or more units per building

OVERVIEW

SPECIAL SITUATIONS

We provide equity and structured capital solutions to lenders, borrowers, and sponsors for broken capital structures, loan purchases, value-add business plans on well positioned CRE projects across North America and asset classes.

OVERVIEW

SPECIAL SITUATIONS

We provide equity and structured capital solutions to lenders, borrowers, and sponsors for broken capital structures, loan purchases, value-add business plans on well positioned CRE projects across North America and asset classes.

DIRECT SOURCING

Long-standing, deep relationships with lenders, intermediaries, special servicers, borrowers, and developers

SUPERIOR DILIGENCE AND UNDERWRITING Diligence

Robust market knowledge and focus on long term asset viability and sponsor strength

CREATIVE STRUCTURE AND SOLUTIONS

Risk mitigation and value creation through durable and dynamic capitalization structures

ASSET MANAGEMENT ADVANTAGE

Leverage organizational scale into hands-on, asset-by-asset business plans that reflect deep operational and development experience and expertise

EXIT

Investment llfe-cycle focus on maximizing investment returns through timely asset dispositions when value creation has been achieved.

TARGET INVESTMENT SUMMARY

STRATEGY

Target technical and complex work-out situations involving debt, bankruptcy, and special servicing.

STRUCTURES

Equity, Preferred Equity, Mezzanine Loans, Debt, and Note Purchases

ASSET CLASSES

All asset classes, including commercial real estate operating companies

FOCUS MARKET

United States

TARGET SIZE

$20 million+

INVESTMENT TERM

3 - 5 Years